Steel Dynamics (STLD) Gains as BofA Updates Coverage for North American Metals Stocks

Core Insights - Steel Dynamics, Inc. (NASDAQ:STLD) is recognized as one of the 15 Dividend Stocks that outperform the S&P 500 [1] - Bank of America raised its price target for Steel Dynamics from $155 to $185 while maintaining a Buy rating, reflecting an update in price forecasts for North American metals and mining stocks [2] - The company reported a strong third-quarter performance with record steel shipments of 3.6 million tons and revenues of $4.8 billion, alongside an adjusted EBITDA of $664 million [3] Financial Performance - Steel Dynamics achieved record steel shipments of 3.6 million tons in Q3 2025, generating revenues of $4.8 billion [3] - Adjusted EBITDA for the quarter was reported at $664 million, supported by robust operating cash flow of $723 million [3] - The steel fabrication segment saw a 12% increase in volumes, with steady order activity and a backlog extending through Q1 2026 [3] Future Outlook - The company anticipates fourth-quarter aluminum operations to incur losses of approximately $40 million, an improvement from the previous quarter [4] - Capital expenditures for Q4 are projected to be around $200 million, with early 2026 CapEx estimates between $500 million and $600 million [4] - Management aims for a 75% utilization rate for aluminum operations by the end of 2026 and expects an optimized product mix by 2027 [4]